If you own your own condo in Brandon, FL, you might wonder what the difference is between home insurance and condo insurance is. After all, they’re both residential properties that you have a deed to. Runnels Insurance wants you to know the fundamental basics of both types of policies, so you know what’s covered.
The Coverage Is Different
With condo insurance, your personal property and liability are covered. So if your things are vandalized or stolen, you’ll be able to file a claim for replacement up to the limits of your policy. And if you’re accused of being at fault for accident or injury by a guest, then you’ll be able to file a claim for this as well (again, up to the limits of your policy). However, when it comes to the building that you live in, the insurance for this is typically managed by a separate policy.
The Ins and Outs of Condos
From the common areas that all condo owners share to the exterior structure of the building, it’s usually an association of some type that will make decisions for the rest of the building. It’s the board that will make the purchase of these policies, and they will also determine how much individual responsibility each condo owner has in the case of repairs or replacements. If you have condo insurance in Brandon, FL, you may want to verify what’s expected of you so you’re not left with charges you can’t afford.
If you have questions about your insurance policy and whether you have enough coverage, Runnels Insurance is here to be of service. We can help you decide whether you need further protection based on both your current policy and the protocol of the current association of your condo.